November 6, 2020
Financial Services Agency
Public Consultation on Cabinet Office Order to Partially Amend Cabinet Office Order on Financial Instruments Business, etc., the Ordinance to Partially Amend the Ordinance on Financial Services Providers' Deposit for Operation and Regulatory Notices
The Financial Services Agency (“FSA”) has now launched a public consultation on Cabinet Office Order to partially amend Cabinet Office Order on Financial Instruments Business, etc., the Ordinance to partially amend the Ordinance on Financial Services Providers' Deposit for Operation and Regulatory Notices.
１．Key Points of the Amendment
Prime Minister SUGA Yoshihide stressed in his first policy speech to the Diet in October that the Japanese government will pursue a range of initiatives for a global financial center in Asia and the world. Strengthening Japan’s functions as a global financial center will help to make global financial markets more resilient against crises such as natural disasters through geographical diversification of financial centers. Also, that will help create new employment and business opportunities as well as economic growth of Japan.
The entry of foreign asset management firms into Japanese markets is important for that purpose.
The proposal allows foreign asset management firms and other eligible financial business operators to complete the registration process in English for designated types of business under the Financial Instruments and Exchange Act.
Cabinet Office Order to partially amend Cabinet Office Order on Financial Instruments Business, etc - (Draft) (Japanese)
the Ordinance to partially amend the Ordinance on Financial Services Providers’ Deposit for Operation - (Draft) (Japanese)
Regulatory Notice specifying necessary matters based on Article 350 (1) and (2) of the Cabinet Office Order on Financial Instruments Business, etc. - (Draft) (Japanese)
Regulatory Notice specifying necessary matters based on Article 18 (1) of the Ordinance on Financial Services Providers’ Deposit for Operation – (Draft) (Japanese)
Please refer to the link here for the key point of the proposals.
２．How to Submit Comments
Please send your comments by email, making sure to include your name, address, and company/organization name by 18:00 (JST), Monday, December 7th, 2020.
The FSA may disclose your name or company/organization name as well as comments it received if so requested. Please indicate at the beginning of your comment if you wish to be anonymous in the case of such disclosure.
The FSA may respond to similar comments all together.It should be noted that the FSA will not respond to each person submitting comment individually.
Email address: email@example.com
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